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University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007- 5 -
Company’s Overview
PSO is the market leader in Pakistan’s energy sector. The company has
the largest network of retail outlets to serve the automotive sector and is the major fuel supplier to
aviation, railways, power projects, armed forces and agriculture sector. PSO takes pride in continuing the
tradition of excellence and is fully committed to meet the energy needs of today and rising challenges of
tomorrow.
Pakistan State Oil, the largest oil marketing company in the country, is
currently engaged in storage, distribution and m
arketing of various POL
products. The company’s current value of Rs. 75 billion, its 82.1% share in
the black oil market and 61.2% share in the white oil market, alone speak
volumes about its success.
Board of Management:
Sardar Yasin Malik
Chairman BOM
Irfan K. Qureshi
Managing Director
Mr. Muhammad Ejaz Chaudhry
Member
Mr. Mahmood Akhtar
Member
Mr. Iskander Mohammed Khan
Member
Mr. Istaqbal Mehdi
Member
University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007- 6 -
Vision
To excel in delivering value to
customers as an innovative and
dynamic energy company that
gets to the future first.
University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007- 7 -
Mission
We are committed to leadership in energy market through competitive advantage in providing the highest
quality petroleum products and services to our customers, based on:

 Professionally trained, high quality,

 motivated workforce, working as a
 team in an environment, which
 recognizes and rewards performance,
 innovation and creativity, and
 provides for personal growth and
 development

 Lowest cost operations and assured

 access to long-term and cost effective
 supply sources
 Sustained growth in earnings in
 real terms

 Highly ethical, safe environment  friendly and socially responsible  business practices
University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007- 8 -
Financial Statement
PAKISTAN STATE OIL LIMITED
Balance Sheet
For the year ended on December 31,2008
ASSETS
2008
2007
Rs.(000)
Rs.(000)
Fixed Assets
11231328
12224042
Current Assets
115878692
62513273
Total Net Assets
127110020
74737315
EQUITY AND LIABILITIES
Equity
30965054
20939217
Non-Current Liabilities
2408746
2412371
Current Liabilities
93736220
51385727
Total Equity and Liabilities
127110020
74737315
PAKISTAN STATE OIL LIMITED
Income statement
For the year ended on December 31,2008
Description
2008
2007
Rs.(000)
Rs.(000)
Sales
495278533
349706326
Cost of products sold
(465254907)
(337446896)
Gross Profit
30023626
12259430
Operating Expenses
(9283021)
(6012814)
Profit after operating expenses
20740605
6246616
Other Income
313860
424238
Other operating income
1396527
1278932
Profit from operations
22450992
7949786
Finance costs
(1367898)
(1158112)
Share of profit of association net of
tax
294318
330306
profit before taxation
21377412
7121980
Taxation
(7323617)
(2432182)
Profit for the year
14053795
4689798
University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007- 9 -
Ratio Analysis
Long-Term Analysis
Income Statement ratio:
Time Interest Earned
( Earning before income tax /
interest exp)
Balance Sheet ratio:
Debt Ratio
(Total Liabilities / Total Assets)*100
Debt / Equity
Ratio
(Debt / Total Equity)
Total Capitalization
(LTD / LTD+C/S+P/S)
Analysis:
Increase in TIER shows that the debt paying ability in2008 is better than 2007 but increase in Debt ratio
and debt to equity ratio shows that the risk of company is also increases.
Short Term Analysis:
Average collection period
(365 Days / A/R Turnover)
Years
2008
2007
PSO
98.09
Times
53.97
Times
Years
2008
2007
PSO
76%
72%
Years
2008
2007
PSO
3.10 Times 2.57 Times
Years
2008
2007
PSO
0.072
Times
0.451
Times
Years
2008
2007
PSO
Days =
21
12
Years
2008
2007
University of Education Okara Campus
By: Umair Ahmed: Ph: +923157532007
- 10 -
Average payment period
(365 Days / A/P Turnover)
Average age of inventory
(365days / Inventory Turnover)
Analysis:
Increase in ACP shows that chances for bad debts also increases and increase in APP Shows that
company uses better its financial resources, but increases in Avg age of inventory shows management not
properly work.
Profitability analysis:
Net profit margin
(Net income / net sales)*100
Total Asset turnover
(Net sales / total asset)
Return on asset
(Net income / total asset)*100
Operating profit margin
(Operating income / Net
sales)*100
Fixed asset turnover
(Net sales / total fixed asset)
PSO
Days =
64
45
Years
2008
2007
PSO
Days =
19
14
Years
2008
2007
PSO
2.84%
1.34%
Years
2008
2007
PSO
3.89
Times
4.68
Times
Years
2008
2007
PSO
11.06%
6.28%
Years
2008
2007
PSO
4.53%
2.27%
Years
2008
2007
PSO
44.00
Times
29.00
Times

Ratio Analysis of PSO

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